NorthCrest Asset Manangement LLC Has $608,000 Stock Position in Orange County Bancorp, Inc. (NASDAQ:OBT)

NorthCrest Asset Manangement LLC grew its position in Orange County Bancorp, Inc. (NASDAQ:OBT - Free Report) by 100.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 25,985 shares of the company's stock after buying an additional 12,996 shares during the period. NorthCrest Asset Manangement LLC owned 0.23% of Orange County Bancorp worth $608,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Hudson Valley Investment Advisors Inc. ADV grew its holdings in Orange County Bancorp by 95.8% during the 1st quarter. Hudson Valley Investment Advisors Inc. ADV now owns 1,178,905 shares of the company's stock worth $27,575,000 after acquiring an additional 576,721 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Orange County Bancorp by 19.6% in the 4th quarter. Ameriprise Financial Inc. now owns 22,916 shares of the company's stock worth $1,273,000 after purchasing an additional 3,752 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Orange County Bancorp by 77.2% during the fourth quarter. Deutsche Bank AG now owns 6,167 shares of the company's stock worth $343,000 after purchasing an additional 2,686 shares during the period. Citadel Advisors LLC increased its holdings in Orange County Bancorp by 17.0% in the fourth quarter. Citadel Advisors LLC now owns 15,693 shares of the company's stock valued at $872,000 after purchasing an additional 2,281 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Orange County Bancorp by 59.8% in the fourth quarter. American Century Companies Inc. now owns 53,753 shares of the company's stock valued at $2,987,000 after purchasing an additional 20,118 shares during the last quarter. Institutional investors own 42.55% of the company's stock.

Orange County Bancorp Trading Up 3.1%

NASDAQ OBT traded up $0.70 during trading on Thursday, reaching $23.60. 84,505 shares of the stock traded hands, compared to its average volume of 29,341. Orange County Bancorp, Inc. has a fifty-two week low of $20.97 and a fifty-two week high of $33.06. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.25. The firm has a market cap of $309.16 million, a price-to-earnings ratio of 9.77 and a beta of 0.48. The stock's 50-day moving average price is $24.50 and its 200 day moving average price is $25.56.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.10. Orange County Bancorp had a net margin of 18.86% and a return on equity of 14.41%. The company had revenue of $27.98 million during the quarter, compared to analyst estimates of $28.10 million. Analysts predict that Orange County Bancorp, Inc. will post 2.83 EPS for the current year.

Orange County Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Wednesday, June 4th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Wednesday, June 4th. Orange County Bancorp's dividend payout ratio is currently 21.58%.

Analysts Set New Price Targets

Separately, Hovde Group reduced their target price on Orange County Bancorp from $30.50 to $29.50 and set an "outperform" rating on the stock in a report on Tuesday, June 10th.

Insider Activity

In related news, insider Joseph A. Ruhl sold 1,752 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $26.67, for a total transaction of $46,725.84. Following the sale, the insider now directly owns 31,485 shares in the company, valued at $839,704.95. This trade represents a 5.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Gregory Sousa sold 2,440 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $24.61, for a total transaction of $60,048.40. Following the sale, the executive vice president now owns 10,280 shares in the company, valued at approximately $252,990.80. The trade was a 19.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,689 shares of company stock worth $172,121 in the last 90 days. Corporate insiders own 9.30% of the company's stock.

Orange County Bancorp Profile

Orange County Bancorp, Inc, through its subsidiaries, provides commercial and consumer banking products and services, and trust and wealth management services to small businesses, middle-market enterprises, local municipal governments, and individuals. It accepts various deposits, including interest-bearing and noninterest-bearing demand accounts, money market deposit accounts, savings accounts, and certificates of deposit.